Mobikwik IPO GMP rises over 17% in 6 days; issue subscribed over 11 times

The grey market premium of Mobikwik IPO surged by 17.57 percentage points in less than a week. The company’s shares were trading at a premium of Rs 149 to the issue price, or 53.41%, in the grey market. On December 06, the stock of Mobikwik was selling at a premium of a bit less than 36% in the grey market.

The current GMP indicates that the company’s stock might list at Rs 428 on the bourses, NSE and BSE. The grey market is an unofficial place to trade shares ahead of listing.